TSX.V - GMG
VANCOUVER, Jan. 10, 2012 /CNW/ - Robert L. Card, President of Gulfside Minerals Ltd. ("Gulfside" or the "Company"), is pleased to report an update for their Northern Treasure and Bryer properties in the Atlin Mining Division in British Columbia, Canada. On January 5, 2012, Brixton Metals Corporation (TSX-V: BBB) ("Brixton") announced assay results from the balance of their 2011 drilling program at its Thorn gold-silver-copper project located in northwestern British Columbia. A total of 21 holes for 5,682m were drilled during 2011, and all analytical results have now been received. Brixton's Thorn property is immediately adjacent to the eastern side of Gulfside's Bryer property.
Highlights from Brixton's announcement include: Oban Breccia Zone hole THN11-60 intersected from surface 95.08m of 904 g/t AgEq (1.71 g/t Au, 628.30 g/t Ag, 0.12% Cu, 3.31% Pb and 2.39% Zn). This included 25.56m of 1,679 g/t AgEq (2.28 g/t Au, 1,300 g/t Ag, 0.22% Cu, 5.34% Pb and 2.51% Zn) and 9.25m of 3,646 g/t AgEq (3.04 g/t Au, 2,984 g/t Ag, 0.53% Cu, 11.65% Pb and 3.42% Zn). The Oban Breccia Zone hole THN11-57 intersected 37.72m of 252 g/t AgEq (2.08 g/t Au, 60.8 g/t Ag, 0.46% Cu, 0.25% Pb and 0.55% Zn) including 7.80m of 717 g/t AgEq (6.13 g/t Au, 197.0 g/t Ag, 1.38% Cu, 0.49% Pb and 0.38% Zn).
Mr. Gary R. Thompson, Brixton's Chairman & CEO stated, "We are extremely pleased to have discovered substantial near surface, high-grade mineralization at the largely untested Oban Breccia Zone, which is located in the heart of a 6 km mineralized corridor. Hole 60 significantly increases the potential of the property. This high-grade zone remains open at depth and on the eastern strike extensions." Mr. Thompson further added, "We believe that the Thorn project, subject to further drilling, has the potential to host a high unit value polymetallic mineral deposit."
Gulfside congratulates Brixton and their team on these results.
Gulfside plans further exploration work on its Bryer and Northern Treasure claim blocks during the coming exploration season.
Alex Burton, PEng, PGeo, a qualified person as defined by National Instruments 43-101, has read and approved the technical information in this news release.
On Behalf of the Board of Directors,
Gulfside Minerals Ltd.
"Robert L. Card"
Robert L. Card
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Forward-Looking Statements: This document includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning GMG's planned exploration programs and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements. Although GMG believes that its expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements are disclosed under the heading "Risk Factors" and elsewhere in the corporation's periodic filings with Canadian securities regulators.